Startup news and updates: Daily roundup (May 1, 2024)

Funding News

Venture Catalysts leads Pre-Seed Funding for Perceptyne

Integrated incubator Venture Catalysts has led a pre-seed funding round for Perceptyne. The investment round also included participation from Tarun Mehta and Swapnil Jain of Ather, and Pawan Chandana and Bharat Daka of Skyroot Aerospace. Other notable investors include T-Hub, Z21 Ventures, Naveen (Founder-My Ally), Satya (Founder-Bluecopa), and Aditya Damani (Founder-Credit Fair).

Products of Perceptyne, a deeptech AI & Robotics startup, are designed to perform tasks demanding human-like dexterity, such as product assembly, e-commerce packaging, and commercial kitchen operations. The company is innovating and building a vertically integrated full stack Robotics platform centered around AI.

“Perceptyne's groundbreaking approach to industrial automation with humanoid robots is set to transform the sector, and we are excited to support their journey. Our investment reflects our belief in their vision to automate tasks with precision and their potential to scale rapidly in the EMS and Automotive industries," said Apoorva Ranjan Sharma, Co-founder, and Managing Director of Venture Catalysts.

neuro42 secures investment from Strategic Angel Investor Karna D Shinde

neuro42, a medical technology company working on portable MRI, robot and AI technologies has secured undisclosed investments from investor, Karna D Shinde. This is Shinde’s third round of investment in the company.

neuro42, received the USFDA clearance for its innovative diagnostic MRI product in February 2024. The portable MRI is designed to specialise in imaging the brain and head, with a key focus on MR-guided interventions. Shinde, an early investor in neuro42, has been closely associated with the company since its formation.

"The diagnostic and interventional capabilities of neuro42's MRI have the potential to transform the way challenging brain tumor cases are approached and treated," he said.

T-Hub launches funding programme, signs 7 MoUs

Startup incubator T-Hub has announced the launch of the SIDBI-T-Hub Funding Programme and the signing of several strategic Memorandum of Understanding (MoUs) with prominent industry players. The initiative was unveiled during the National Defence and Aerospace Innovation Summit (DIAS).

T-Hub's MoUs were signed with KAVACHH, the International Institute For Space Studies & Research (IISSR), the Directorate of Defence Research & Development - Israel, Bharat Dynamics Limited (BDL), Collins Aerospace, the College of Defence Management and the Indian School of Business among others. These collaborations will facilitate knowledge exchange, expedite technological progress, and cultivate a vibrant ecosystem for innovation within the defense and aerospace sectors.

The newly introduced SIDBI-T-Hub Funding Programme aims to bridge the financial gap for emerging startups in these sectors, providing crucial support to nurture innovation and enable the development of cutting-edge technologies to address national security requirements.

Other News

mPokket onboards global executive Todd Ruppert to its advisory board

Digital lending platform mPokket has announced the appointment of Todd Ruppert to its Advisory Board. Todd served as a venture partner at Greenspring Associates and Founder of Ruppert International, a firm with diversified global interests in startup companies.

Todd, the ex-CEO of T. Rowe Price Global Investment Services and co-president of T. Rowe Price International, holds senior advisory and board positions with multiple PE/VC firms, including Antler, the largest early-stage company builder worldwide.

During his tenure at T. Rowe Price, Todd spearheaded the firm’s investment in UTI.

“With a commitment to education, youth development, and financial inclusion, mPokket is poised to make a significant impact, and I'm excited to be a part of this journey,” he said.

Scaler launches Scaler School of Business

Education provider Scaler has announced the launch of Scaler School of Business (SSB) with its full-time on-campus Postgraduate Program in Management and Technology in the heart of Bengaluru.

SSB's postgraduate program integrates elements like a three-month internship, case studies, industry-driven evaluations, and immersive projects sourced directly from leading companies. Students will have access to a dedicated space—Scaler Innovation Lab—where they will work on projects under Scaler's leadership team and CXOs of partner organisations. They will be able to collaborate with computer science engineers from Scaler School of Technology to build prototypes or minimal viable products.

“We are dedicated to shaping the future of talent with an industry-focused approach. We want to empower working professionals and students alike to build the right skillsets and knowledge, leading to a wider impact in the real world. We strongly believe that working professionals today and in the future need both business and technology acumen. Scaler School of Business is a vital step in that direction,” said Abhimanyu Saxena, Co-Founder of Scaler.

Ghost Kitchens India appoints Chef Abhishek Singh as Chief Culinary Officer

Following its Series A round, tech-led food delivery company Ghost Kitchens India has announced the appointment of Chef Abhishek Singh as its Chief Culinary Officer. Chef Abhishek will report to CEO office and wing Chef Vicky Ratnani, Culinary Director of Ghost Kitchens.

Chef Abhishek has over 17 years of culinary experience. His journey began at Jaypee Hotels and Oberoi Hotels. He later worked at Pind Balluchi in Bengaluru and Pind Balluchi Bar & Grill in Singapore under F&B Asia Ventures Limited, Part of Everstone Capital group.

"This opportunity allows me to follow my passion for culinary creativity at a scale. I am excited to use my past learning of culinary experience as well as backending recipes to grow Ghost Kitchens and build one of the largest portfolio of brands that customers love,” he said.

(This article will be updated with the latest news throughout the day.)